Loading
Over the last two decades, technology has radically changed how people live and work.
But is technology on the verge of radically changing where people live and work?
Elie Finegold, a senior vice president at CBRE Group, says it is — especially considering devices like smartphones and services like Wi-Fi blur the lines between home and work.
Technology, says Finegold in a recent issue of CBRE's global online magazine, has changed real estate in several ways. That includes:
Radical mobility: People can work from almost anywhere now -- an office, a plane, a bedroom, even an elevator. That has prompted companies to look for more adaptable real estate frameworks.
Collaborative economy: Technology allows people to not only work where they want, but even take on revenue sources they may not have had otherwise. For instance, smartphone apps have turned average people into drivers for services like Uber. And average homes have become hotel rooms through services like Airbnb.
Transportation revolution: The number of people who need to drive will decrease significantly with self-driving cars, multi-modal trucking and even distribution drones. That will result in less need for parking lots and expensive highways, Finegold says, and instead create space that can be utilized in new ways.
“If you take all these things together, they are breaking down traditional work/life balances, and changing the real estate landscape,” Finegold says in the report. “Companies are attracted to places where there are live/work opportunities for employees.”
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
